Home > Uncategorized > Visit Lehman Brothers’ Office – Business Insider

Visit Lehman Brothers’ Office – Business Insider

September 12, 2012 Leave a comment Go to comments

The Lehman Brothers office in Midtown makes up around a third of the original company, in terms of assets, and is responsible for paying back $360 billion in more than 60,000 claims. It has already distributed around $22 billion and estimated that it will pay back another $40 billion — giving investors an average of 18 percent of that $360 billion — by the time it closes its doors completely… The company’s entire business objective is to fulfill the terms of a 791-page legal document listing all of its unfulfilled financial promises. The task is even more overwhelming than it first appears. Each creditor is owed a different percentage based on the type of loan it gave and which division the creditor gave it to. Investors who lent money to Lehman’s commercial-paper subsidiary get a return of 56 cents on the dollar; those who bought a bond from the parent company are getting a little more than 20 cents. And each of those creditors can pursue a challenge and demand more money. One of the new Lehman’s busiest departments, not surprisingly, is legal.

via Visit Lehman Brothers’ Office – Business Insider.

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